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Sodium acetate is produced by reacting acetic acid with sodium carbonate. Sodium acetate trihydrate is granular crystalline powder and has acetic odor.  Medical & pharmaceutical, leather & textiles, plastic, water, agriculture, and food are some of the key application of the sodium acetate trihydrate and sodium acetate.

The global sodium acetate trihydrate & sodium acetate anhydrous market is estimated to be valued at US$ 1,14,113.8 thousand in 2021 and is expected to exhibit a CAGR of 4.9 % over the forecast period (2021-2028).

Recent Developments:

  1. In July 2021, Milla Pharmaceuticals merged with Woodward Pharma Services LLC to combinely increase their product portfolio and improve services.
  2. In November 2020, The Federal Trade Commission finalised merger of Mylan and Pfizer after a significant delay due to covid pandemic. The merger will run its business under the name ‘Viatris’, which was mutually decided.
  3. In June 2021, Kerry Group, an Irish ingredients company acquired Niacet, a sodium preservative specialist, from SK Capital, a private investment firm for a purchase amount around $1 billion for its product portfolio expansion.

Figure 1. Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market Value (US$ Mn), by Region, 2020

Sodium Acetate Trihydrate & Sodium Acetate Anhydrous  | Coherent Market Insights

Asia Pacific (Region) held dominant position in the global sodium acetate trihydrate & sodium acetate anhydrous market in 2020, accounting for 54.9% share in terms of value, followed by North America and Europe, respectively. This Decade observed rapid industrialization in Asia Pacific with FDI being one of the major factor, this industrialization also includes Textile industry and pharmaceutical industries, which generates huge demand for Sodium acetate in the region.

Drivers:

Robust growth in the pharmaceutical industry is projected to propel the market growth of the sodium acetate trihydrate & sodium acetate anhydrous. It is widely used in the electrolytes and warming pads. They are also used as a diuretic agent. Increasing geriatric population is creating a need for healthcare facilities. Hence, growth in the pharmaceutical industry is fueling the market growth of the sodium acetate trihydrate & sodium acetate anhydrous over the forecast period.

Growing demand for leather products is predominantly fueling the market growth of the sodium acetate trihydrate & sodium acetate anhydrous. Increasing demand for products such as handbags, footwear, bags, and other leather-based products is driving demand for sodium acetate trihydrate & sodium acetate anhydrous. It is a crucial component of leather tanning chemicals and textile dyeing chemicals. Moreover, an increasing number of leather manufacturing industries around the globe is also expected to foster the market growth. Thus growing demand for leather products is propelling the market growth. 

Market Opportunities

Expansion of the chemical industry around the globe due to the increasing production of chemical products is expected to offer lucrative opportunities in the market over the forecast period. According to the Cefic Facts & Figures, global chemical turnover was valued at €3,347 billion in 2018. Global sales increased by 2.5% from €3,266 billion in 2017 to €3,347 billion in 2018. China leads the market with €1,198 billion in 2018. Thus, robust growth in the chemical industry is projected to foster the market growth.

Increasing use of sodium acetate as a phase changing materials in solar heat systems and thermal energy storage systems is projected to bring new market opportunities. Moreover, it is also used in other applications such as heat pump systems, heat pump systems, waste heat recovery and thermal protection in electronic products. Thus, emerging such application of sodium acetate is projected to foster the market growth of the sodium acetate trihydrate & sodium acetate anhydrous over the forecast period. 

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Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2021: US$ 1,14,108.2 K
Historical Data for: 2016 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 4.9% 2028 Value Projection: US$ 1,59,331.5 K
Geographies covered:
  • Region: North America, Europe, Asia Pacific, RoW
Segments covered:
  • Product Type: Sodium Acetate Trihydrate, Sodium Acetate Anhydrous
  • End Use: Leather & textile, Food, Medical & Pharmaceuticals, Others
Companies covered:

Allan Chemical Corporation, CABB GmbH, Changshu Nanhu Chemical Co., Ltd., Fujian Fukang Pharmaceutical Co., Ltd., Nantong Zhongwang Additives Co., Ltd., Karn Chem Corporation, Niacet Corporation, NOAH Technologies Corporation, Shanxi Xinzhou Chemical Reagent Factory, and Spectrum Chemical Manufacturing Corporation.

Growth Drivers:
  • Robust growth in the pharmaceutical industry
Restraints & Challenges:
  • Availability of the other food preservatives

Market Trends

Improving lifestyle of the consumers coupled with the growing awareness regarding the health is driving consumption of the product from the healthcare industry. The overall development of the economy coupled with the growing supply chain of the food products is also contributing to the market growth of sodium acetate trihydrate & sodium acetate anhydrous. All these factors are expected to bolster the demand for sodium acetate over the forecast timeframe.

The growing use of sodium acetate in the agriculture industry is one of the emerging trends in the market. Sodium acetate is used in nematicides as an attractant. Nematicides are a type of pesticide used to kill the worms on plants. Growing adoption of the advanced agricultural practices for enhancing the yield production is expected to boost the demand for pesticides which in turn is creating demand for sodium acetate. Thus, growing agricultural application of sodium acetate is propelling the market growth.

Figure 2. Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market Share, By End Use, 2020

Sodium Acetate Trihydrate & Sodium Acetate Anhydrous  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Leather & Textile held dominant position in the market and accounted for 35.21% share in the global sodium acetate trihydrate & sodium acetate anhydrous market in 2020. The segment is expected to reach US$ 56,823.9 thousand in 2028.
  • The robust increase in disposable income and increased luxorius clothing fashion style among consumers is propelling the demand for sodium acetate in leather and textile segment.

Market Restraints

Lack of awareness regarding the benefits of the products is affecting the demand for sodium acetate trihydrate & sodium acetate anhydrous. This factor is hindering market growth over the forecast period.

Availability of the other food preservatives in the market is restricting the use of sodium acetate trihydrate in the food application. Thus, easy availability of other food preservatives are projected to inhibit the market growth.

Competitive Section:

Company Names 

  1. Allan Chemical Corporation
  2. CABB GmbH
  3. Changshu Nanhu Chemical Co., Ltd.
  4. Fujian Fukang Pharmaceutical Co., Ltd.
  5. Nantong Zhongwang Additives Co., Ltd.
  6. Karn Chem Corporation
  7. Niacet Corporation
  8. NOAH Technologies Corporation
  9. Shanxi Xinzhou Chemical Reagent Factory
  10. Spectrum Chemical Manufacturing Corporation.

Sodium Acetate is one of the most common plasticizers used in the United States and around the world. It's used to extend or add the color, feel, or other qualities to a wide range of products from plastic containers to pharmaceuticals and even metal. The most common is the blue or clear plastic known as the propylene glycol or PEG. Sodium Acetate is added at the end of a polymerization or emulsification step to provide for a homogenous, white, transparent substance that can be poured into mold forms with no separation. It is a fairly inexpensive alternative to gemstones, metals, plastics, and composites.

Sodium Acetate Trihydrate & Sodium Acetate Anhydrous are commonly found together. One example of a product with these ingredients is the PEO compound that is included in many polymer products. Another example is sodium lauryl sulfate (SLS) which is often added as an ingredient to hardener compounds such as polyimide binder resins and polyimide sheets

Market Dynamics:

Robust growth in the pharmaceutical industry and increasing demand for leather products is driving growth of the sodium acetate trihydrate & sodium acetate anhydrous market.

On the other hand, availability of alternative food preservative is expected to hinder growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the sodium acetate trihydrate & sodium acetate anhydrous market, and provides market size (US$ Thousand and Tons) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global sodium acetate trihydrate & sodium acetate anhydrous market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Allan Chemical Corporation, CABB GmbH, Changshu Nanhu Chemical Co., Ltd., Fujian Fukang Pharmaceutical Co., Ltd., Nantong Zhongwang Additives Co., Ltd., Karn Chem Corporation, Niacet Corporation, NOAH Technologies Corporation, Shanxi Xinzhou Chemical Reagent Factory, and Spectrum Chemical Manufacturing Corporation..
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, Product type up-gradation, market expansion, and marketing tactics
  • The global sodium acetate trihydrate & sodium acetate anhydrous market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global sodium acetate trihydrate & sodium acetate anhydrous market

Detailed Segmentation:

  • Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market, By Product Product type:
    • Sodium Acetate Trihydrate
    • Sodium Acetate Anhydrous
  • Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous, By End-Use:
    • Leather & textile
    • Food
    • Medical & Pharmaceuticals
    • Others
  • Global Sodium Acetate Trihydrate & Sodium Acetate Anhydrous Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
    • Europe
      • By Country:
        • Germany
        • U.K
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Rest of world
      • By Sub-Region
        • Latin America
        • MEA
  • Company Profiles
    • Allan Chemical Corporation
    • CABB GmbH
    • Changshu Nanhu Chemical Co., Ltd.
    • Fujian Fukang Pharmaceutical Co., Ltd.
    • Nantong Zhongwang Additives Co., Ltd.
    • Karn Chem Corporation
    • Niacet Corporation
    • NOAH Technologies Corporation
    • Shanxi Xinzhou Chemical Reagent Factory

Frequently Asked Questions

The global sodium acetate trihydrate & sodium acetate anhydrous market size is estimated to be valued at US$ 1,14,113.8 Thousand in 2021 and is expected to exhibit a CAGR of 4.9% between 2021 and 2028.
Robust growth in the pharmaceutical industry and growing demand for leather products are the factors fuelling growth of the market.
The leather and textile segment is the leading end use segment in the market owing to increased luxurios fashion style, priority of comfort, and disposable income.
Availability of the other food preservatives is expected to hinder growth of the market.
Major players operating in the market include, Allan Chemical Corporation, CABB GmbH, Changshu Nanhu Chemical Co., Ltd., Fujian Fukang Pharmaceutical Co., Ltd., Nantong Zhongwang Additives Co., Ltd., Karn Chem Corporation, Niacet Corporation, NOAH Technologies Corporation, Shanxi Xinzhou Chemical Reagent Factory, and Spectrum Chemical Manufacturing Corporation.
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by Rapid increase and investment in Textile and pharmaceutical industries.

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